Mobile phones have become a very lucrative segment in the Indian market.
But that’s just the beginning.
The country is also looking to develop a mobile industry of its own and, in the process, get more smartphones into the hands of its people.
According to a report by the global marketing consultancy MMM, the market for smartphones is expected to reach $15.3 trillion by 2020.
It’s the third-largest consumer market in the world after China and India, and is expected grow to $20 trillion by 2030.
The Indian market is expected become a major market for all other smartphone manufacturers.
But the growth in smartphone shipments is a huge opportunity for MMM to gauge the market’s competitive position.
Here are the top 5 smartphone specs in India, with some key stats.
The smartphone market is estimated to grow at a CAGR of 9.4% by 2020, according to a research note by Indian smartphone analyst Kalyani Srivastava.
It will become a top five smartphone market in India by 2025.
The top five smartphones in India in 2020:1.
Xiaomi Mi Note 2 (Xiaomi Mi Note)2.
Huawei Honor 8 (Honor 8)3.
Sony Xperia XZ Premium 4.
Samsung Galaxy Note 3 (S8)5.
Samsung S7 Edge+6.
OnePlus 3T (3T)7.
OnePlus 5T (5T)9.
Xiaomi Redmi Note 4 (Redmi Note)10.
OnePlus X (X)MMM predicts that smartphone shipments will grow at 9.6% in 2020, 10.3% in 2025, and 10.4%, respectively.
The number of smartphone users will grow to approximately 14.6 billion in 2020 and 17.7 billion in 2025.
The market for India’s smartphone makers is expected surpass China and Europe by 2020 and 2025, respectively.